Cornerstone Planning Group LLC Grows Stock Holdings in MetLife, Inc. $MET

Cornerstone Planning Group LLC grew its stake in MetLife, Inc. (NYSE:MET) by 1,219.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,385 shares of the financial services provider’s stock after purchasing an additional 14,219 shares during the period. Cornerstone Planning Group LLC’s holdings in MetLife were worth $1,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management boosted its stake in MetLife by 205.8% during the fourth quarter. Activest Wealth Management now owns 315 shares of the financial services provider’s stock worth $25,000 after buying an additional 212 shares during the last quarter. Sound Income Strategies LLC grew its holdings in MetLife by 58.9% in the 4th quarter. Sound Income Strategies LLC now owns 383 shares of the financial services provider’s stock valued at $29,000 after buying an additional 142 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of MetLife in the 4th quarter worth $30,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of MetLife during the 4th quarter worth $31,000. Finally, Prosperity Bancshares Inc acquired a new position in shares of MetLife during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

More MetLife News

Here are the key news stories impacting MetLife this week:

• Positive Sentiment: MetLife Stadium is hosting the World Cup final, which keeps the venue in the global spotlight and may highlight the company’s high-profile asset and brand visibility. FIFA insists MetLife Stadium’s pitch is ready for the World Cup final despite criticism
• Positive Sentiment: Heavy media coverage around ticket sales, fan guides, food and drink pricing, and kickoff details suggests strong interest and traffic around the event at MetLife Stadium. How to buy tickets to see Spain in World Cup Final at MetLife
• Neutral Sentiment: News about weather, heat, storms, air quality, and wildfire smoke could affect the event experience, but it does not directly change MetLife’s earnings outlook. World Cup final could be shaped by heat, storms and air quality at MetLife Stadium
• Neutral Sentiment: FIFA’s criticism of the pitch and the “money grab” controversy may create headline risk for the venue, but the impact on MetLife’s stock is likely limited unless the issue affects operations or reputation more broadly. NJ governor slams FIFA’s money grab over sales of MetLife World Cup pitch
• Negative Sentiment: Ongoing criticism about the field quality and pitch conditions at MetLife Stadium could dent the venue’s reputation, even though it is unlikely to materially affect MetLife’s insurance business. The MetLife trap: the controversial pitch threatening the final | OneFootball

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of MetLife from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 15th. UBS Group lifted their target price on shares of MetLife from $102.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Jefferies Financial Group increased their price target on shares of MetLife from $97.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Atlantic Securities set a $103.00 price target on shares of MetLife in a report on Wednesday. Finally, Bank of America reduced their price target on shares of MetLife from $103.00 to $99.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.57.

MetLife Trading Up 0.3%

NYSE MET opened at $93.99 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. The stock has a market capitalization of $60.48 billion, a P/E ratio of 18.21, a PEG ratio of 0.71 and a beta of 0.78. The firm’s 50-day moving average is $85.80 and its two-hundred day moving average is $79.07. MetLife, Inc. has a 12 month low of $67.33 and a 12 month high of $94.86.

MetLife (NYSE:MET) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.15. The business had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $19.49 billion. MetLife had a net margin of 4.66% and a return on equity of 22.60%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the business earned $1.96 earnings per share. On average, sell-side analysts anticipate that MetLife, Inc. will post 9.94 earnings per share for the current year.

MetLife Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 4th will be issued a $0.5925 dividend. This represents a $2.37 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, August 4th. MetLife’s dividend payout ratio (DPR) is 45.93%.

About MetLife

MetLife, Inc is a global provider of insurance, annuities and employee benefit programs. Headquartered in New York City, the company offers a range of risk protection and retirement solutions to individuals, employers and institutional clients. Its core businesses include life insurance, group benefits, retirement products such as annuities, and supplemental health products including dental and disability coverage.

In addition to traditional life and group insurance, MetLife provides workplace benefits and voluntary products distributed through employer-sponsored programs.